iBankCoin
18 years in Wall Street, left after finding out it was all horseshit. Founder/ Master and Commander: iBankCoin, finance news and commentary from the future.
Joined Nov 10, 2007
21,406 Blog Posts

Late Night Thought

I just exchanged my remaining [[MVIS]] shares, with a cost basis of $4.50, for Treasuries, via the new Fed window.

Developing…

UPDATE: Go check Woodshedder’s chart chomping analysis. He is, barnone, my favorite chart guy on the internets.

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55 comments

  1. howard lindzon

    smart

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  2. The Fly

    Thanks.

    With the T-bills, I just leveraged them 10-1 and bought myself RIMM calls, into earnings.

    Wish me luck.

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  3. The Fly

    Since I’m trading with my time machine, I just sold my RIMM calls and sold the T-bills.

    Right now, I’m back to cash.

    Developing…

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  4. DPeezy

    Time-machine-trading…seems unfair compared to us mortals.

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  5. I wish I still owned MVIS stock as we are out of toilet paper.

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  6. TraderCaddy

    That was me above re: toilet paper.

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  7. Capitan Dorko

    I had toilet paper once. But now I just use dollar bills. Thanks Fed!

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  8. JakeGint

    Sawbucks have better absorption, fyi.

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  9. mrkcbill

    Calvin- How does one find a link like that, who writes that shit? I wonder if Andrew Falanga can answer the $64,000 question …. is it a genetic or environmental thing.

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  10. The Fly

    I just ordered the removal of Calvino’s mustache, via brass knuckles.

    Do not be surprised, when eating your morning bagel with cream cheese, when some jerk off from NJ knocks that shit off.

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  11. JakeGint

    Fly — if you were watching any of the NCAA’s this weekend, E-trade was running an ad about some guy who switched away from them, and then switched back.

    He was a member of some kind of trading club, and they other members forced him to grow a cheezy mustache in order to re-join.

    Someone’s reading this thing.

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  12. JakeGint

    Calvin, geezus, that’s a depressing freaking article.

    You think “the retahded” don’t have enough problems without some helpful social worker informing him/her that he/she is probably gay?

    Or transgendered for fux sake?

    Can you imagine these farking busybodies? They probably think they’re breaking new frontiers or something.

    Off to do my taxes and kill myself. (Coincident factors).

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  13. bagger

    uncle “1st comment” Howard, indeed.

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  14. calvino

    Send them – Maybe I can get the Jersey goons to buy some of my CRM. Even better, send them to Palo Alto to visit Mr Benioff at CRM.

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  15. relax

    That’s nothing, I downloaded a photograph of a big sack of money from the internet, and then exchanged it for an actual sack of money, at the new “FMJA” facility (Free Money, Just Ask).
    I asked for terms and they said “no big deal, pay it back whenever… if you can”.
    It was like that old SNL sketch where Eddie Murphy goes undercover as a white guy and the banker just gives him money.. “take as much as you need”.
    Capitalism, bitches.

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  16. JakeGint

    Being a B/D, Fly can now access the “FMJA* window” at any time, time machine dependent or no.

    _________________

    * That was farking funny.

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  17. Woodshedder

    I want someone to tell me what fucking intellectually disabled means.

    How about, “This guys operates on the level of a 13 year old.” Or, “He has difficulty reading above a third grade level and has trouble with basic multiplication.”

    Here in Va, the general assembly was going to spend some crazy amount of money to remove “mentally retarded” and replace it with “intellectually disabled” in all of the legal literature.

    Anyway, rant off.

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  18. calvino

    The dollar rally looking a bit overextended at two days.. down one euro penny so far.. Stopped out of my yen shorts. Goodbye rally

    Woody – intelllectually disabled is the prerequisite for getting hired at CNBC, on top of an overvalued degree in bullshit. Whereas retarded is falling asleep before you set your stops, while the bearded clam is on the prowl.

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  19. The Donger

    Dorrah larry ova. Carvino betta get rong yen. No not wrong yen, I mean rong yen.

    No moah Yankee my wanky…..automobile?…hahahaha!

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  20. Rainman

    MVIS sucks.

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  21. BOOMER

    “Andrew is 39 years old, and he has an intellectual disability that makes it difficult for him to understand a lot of complex things.”

    Like a woman

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  22. Woodshedder

    After all, he is gay, Boomer. That would follow…

    I hope Boca is not reading.

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  23. Danny

    Why? That beezy can totally hang.

    Anyone who talks shit on her is probably a pussy. She would likely make them eat mud, neighborhood bully style. I don’t think you need to worry.

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  24. boca

    HAHAHA Thanks Danny. It comes from having a hard life, nothing on the Internets can compare. But as you know, I’m a total marshmallow inside and quite fond of you guys.

    Boomer, that’s just sad. At least come up with something more original than that.

    Funny, I always liked you, but I guess you need more help than I thought.

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  25. Juice

    Fly – You should have a link to this site. Very good stuff.

    http://market-ticker.denninger.net/

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  26. Juice

    This lifelong registered Republican, voted for George W. Bush twice, and has one of Gingrich’s “Speaker’s Gavels” on the credenza behind his desk, so before you go accusing him of being a “leftwing nutjob” (JakeGint), think again.

    He says “what’s right is right and I must stand for what’s just, and when the political party I am a member of does something wrong, they must admit to it and face the consequences. Sorry Mr. President; I like you a great deal, but what happened here was, in my opinion, blatantly unlawful. The $30 billion “backstop” must be rescinded until and unless Congress explicitly authorizes that act through legislation and you sign same.”

    Impeach President Bush . According to the Federal Reserve Act of 1913, “backstopping” Bear Stearns debt via The Federal Reserve is NOT legally permissible.

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  27. wow

    Wood,

    Please stop referring to Richmond as VA, please use it’s proper name “N.N.C. (Northern North Carolina).”

    Thank you for your compliance.

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  28. Cajun

    Glad I’m an iBC employee, I know where to find the futures tab.

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  29. JakeGint

    Most Republicans understand how gov’t works. But since you’re a “Paulist” (aka, “nutjob”), I’ll sketch it out for you. Bush doesn’t run the Fed.

    Where did Bush authorize the Bear backstop?*

    Better you should call for the dissolution of the shadow gov’t — aka “Fed.” (I think you’ll find they have way too much “discretion.”)

    But if you think the Fed works without the approval of Congress, well…. see my above comment, re: “Paulists.”

    _________________________

    * And don’t let this appear to be a blind defense of Bush. He’s done plenty of stupid (aka, “non-Republican”) things, but when knee-jerk nutjobs start blaming the weather on him, it gets kind of tedious.

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  30. Gunners

    damnit… MON just fucked me bad

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  31. JakeGint

    And for the record, I think this Bear Stearns “Re-offer” — now offering $10 a share for an equity that is worth NOTHING, ZERO, NADA, ZIP — stinks to high heaven.

    The arrogance of these shareholders is breathtaking, and is merely highlighted (in neon) by the ham-handedness of the Fed, here.

    The Fed, trying to make a point, said “Give them $2” to mitigate the mess of bankruptcy on all of these counter-party responsibilities, but what they should have said was “give them a nice shiny nickel a share.”

    Perhaps shareholders would have been just as outraged as with the $2, but then perhaps more would have realized they were getting 5 cents over par!

    Here’s what the Fed should have done… announced Bear was “bankrupt” — “that’s it, you’re done, fuckers,” and that it was “stepping in” to mitigate the counter party turmoil, so the markets could function smoothly while the equity of Bear went to zero.

    My prediction — the deal now blows up thanks to Congressional “need to do somethingness” and Bear goes to zilch.

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  32. Leawoodblues

    Don’t mind Jake.

    He is, by his own admission, a right-wing nutjob.

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  33. JakeGint

    Betting on regional banks?

    This guy says “you’re nuts” and he has an air of credibility to him.

    Why, you ask?

    Because it appears he’s recently had his mustache punched clear off.

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  34. JakeGint

    Leawood, your next sensible comment that adds value here will be your first.

    Good luck with that.

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  35. jeff

    Fly – is today the day we print the doji and head lower?

    Doji could provide a reversal signal in relation to the preceding trend and future price confirmation.

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  36. BOOMER

    Boca – what are you talking about?

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  37. taxman

    Proposed changes in taxes after 2008 General election:

    CAPITAL GAINS TAX

    MCCAIN
    15% (no change)

    OBAMA
    28%

    CLINTON
    24%

    DIVIDEND TAX

    MCCAIN
    15% (no change)

    OBAMA
    39.6%

    CLINTON
    39.6%
    INCOME TAX

    MCCAIN
    (no changes)
    Single making 30K – tax $4,500
    Single making 50K – tax $12,500
    Single making 75K – tax $18,750
    Married making 60K- tax $9,000
    Married making 75K – tax $18,750
    Married making 125K – tax $31,250

    OBAMA
    (reversion to pre-Bush tax cuts)
    Single making 30K – tax $8,400
    Single making 50K – tax $14,000
    Single making 75K – tax $23,250
    Married making 60K – tax $1 6,800
    Married making 75K – tax $21,000
    Married making 125K – tax $38,750

    CLINTON
    (reversion to pre-Bush tax cuts)
    Single making 30K – tax $8,400
    Single making 50K – tax $14,000
    Single making 75K – tax $23,250
    Married making 60K – tax $16,800
    Married making 75K – tax $21,000
    Married making 125K – tax $38,750

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  38. pablodpt
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  39. calvino

    Sold two shares of DSL – a la Jakey’s post. Seeking Alpha had a nice write up of tthem today – headline – going to zero?

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  40. boca

    I was talking about this comment, supposedly made by a BOOMER:

    “BOOMER Says:

    “Andrew is 39 years old, and he has an intellectual disability that makes it difficult for him to understand a lot of complex things.”

    Like a woman”

    Now that I read it again, are you saying women are complex and that’s why Andrew doesn’t understand them? At first it read like you were saying women are like Andrew, i.e. intellectually challenged.

    OK, nevermind then. Not even important enough to faux argue about.

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  41. JakeGint

    Thanks to the Woodshedder/Cramer bottom, it looks like that Skiffles put sale yesterday is taking on a “Doug Henning the Hut” hue this morning…

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  42. JakeGint

    Boca, I must admit (guiltily) that I took it that way as well.

    I also laughed out loud (be apprised, I feel “much shame” to this day about it), but then thought,

    “Hmmm… that doesn’t sound like our regular Boomer.”

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  43. boca

    I guess it looked different after a few more cups of caffeine this morning. Good luck with your taxes Jake, I hate doing them as well.

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  44. BOOMER

    No worries, boca. Meant women are complex.

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  45. boca

    Great, thanks, Boomer.

    Anybody here hear of Marc Faber? I got a book yesterday called The Great Money Illusion: The Confusion of the Confusions, mainly about the events leading up to the 1987 crash. Surprisingly it seems to be worth about $290 from a bookseller’s standpoint — is it really worth that amount of money from an investment standpoint? The book seems very insightful in retrospect and it’s suprising how many of his comments could relate to today’s market.

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  46. gappingandyapping
    gappingandyapping

    SMN smokage! I was stopped out yesterday. Will re-enter today.

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  47. JakeGint

    Boca, the sad thing is… I don’t even actually “do” them. I just assemble the “parts” for my accountant.

    And even that is a grand mal biatch.

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  48. whoops

    Scrolled down and thought Jake was replying to boca re: women, not re: taxes. Heh.

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  49. Dinosaur Trader

    Very third tier behavior, not posting like this…

    -DT

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  50. BOOMER

    Speaking of taxes…

    Does anyone know of a good trade accounting software package, that auto settles wash sales, etc?

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  51. George Sr

    RIO (RIO Tinto)- Iron ore, other mining

    thoughts?

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  52. Slater866

    The ticker for Rio in the US is RTP,RIO ticker is Vale, a more pure iron ore and nickel play, while Rio Tinto is a more diversified minor with base metals Copper and Zinc exposure.

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  53. George Sr

    My bad. I did mean RIO (Vale)…

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